UPDATED. 2024-05-22 10:56 (수)
LG Uplus profit increases 28.1% in 2020
LG Uplus profit increases 28.1% in 2020
  • Jong Jun Lee
  • 승인 2021.02.03 19:59
  • 댓글 0
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Firm’s annual sales increase by 8.4%
Image: LG Uplus
Image: LG Uplus

LG Uplus said on Wednesday that it recorded 13.41 trillion won in sales and 886.2 billion won in operating income for the full-year of 2020.

The figures are an on-year increase of 8.4% and 28.1%, respectively. LG Uplus said profitability increased while efficient control of marketing cost contributed to the increase in operating income.

For the fourth quarter, LG Uplus recorded 3.51 trillion in sales, an increase of 10.8%. Operating income dropped 3.7% on-year to 175.5 billion won.

The carrier said marketing cost increased in the quarter for the launch of iPhone 12 and increase in 5G subscriptions.

LG Uplus said it plans to expand 5G coverage in in-buildings and outskirts of regions. It will also commercialize standalone 5G networks and develop business models that uses 28GHz spectrum, it said. It plans to find new growth engines in smart factory, smart city and smart mobility sectors with 5G, LG Uplus added.

The carrier will also seek quality growth over negative competition with rivals, the firm said.

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